|
<br /> m
<br /> 10 n ~ ,'''' ~
<br /> c::o ('") U)
<br /> m :c c-:... 0
<br /> 'TI m co o -j :D
<br /> of t c n % ~~ el>- N m
<br /> i..HJ 6 :, U ~ ::n :z~ 0
<br /> t I n z 'IIIi c= -IfTl 0 ~
<br /> ~ t c C") -<0
<br /> ~ Q .~ 0
<br />N 0"" o "'T1 Z
<br />s n U1 "'T1:z
<br />S ~ ::c ...., CD ~
<br />ex> 0 0 r ::c rr1
<br /> )> UJ C) ~
<br />S rn -0
<br />0) '" rn :a r ;u CJ)
<br />-.....j 0 I )> 3:
<br />....... () (,/) lfJ -.J m
<br />0) ......... :;><; ~
<br /> l> .........
<br /> -.t: -"-' is
<br /> N (p CD
<br /> VI
<br />
<br />'-._.~~
<br />
<br />t1d &.r:. .sA nd, ,
<br />WHEN RECORDED MAIL TO:
<br />Platte Valley State Bank & Trust Company
<br />PVSB Grand Island Branch ,PI" ~ 5/dIt1
<br />810 Allen Dr
<br />Grand Island. NE eaee;r t.,J'pC 2.- 9"J-z-z-
<br />
<br />3tJ. 50
<br />
<br />FOR RECORDER'S USE ONLY
<br />
<br />DEED OF TRUST
<br />
<br />THIS DEED OF TRUST is dated July 28, 2008, among Brian L Fox and Heather L Fox; as Husband and Wife
<br />
<br />("Trustor"); Platte Valley State Bank & Trust Company, whose address is PVSB Grand Island Branch, 810 Allen
<br />
<br />Dr, Grand Island, NE 68803 (referred to below sometimes as "Lender" and sometimes as "Beneficiary"); and
<br />
<br />Platte Valley State Bank & Trust Company, whose address is 810 Allen Dr, Grand Island, NE 68801 (referred
<br />
<br />to below as "Trustee").
<br />
<br />CONVEYANCE AND GRANT. For valuable consideration, Trustor conveys to Trustee in trust, WITH POWER OF SALE, for the benefit of
<br />lender as Beneficiary, all of Trustor's right, title, and interest in and to the following described real property, together with all existing or
<br />subsequently erected or affixed buildings, improvements and fixtures; all easements, rights of way, and appurtenances; all water, water
<br />rights and ditch rights (including stock in utilities with ditch or irrigation rights); and all other rights, royalties, and profits relating to the real
<br />property, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in Hall
<br />
<br />County, State of Nebraska:
<br />
<br />Lot Twenty-six (26), in Westwood Park Tenth (10th) Subdivision, to the City of Grand Island, Hall County,
<br />
<br />Nebraska
<br />
<br />The Real Property or its address is commonly known as 515 Sandalwood Drive, Grand Island, NE 68803.
<br />
<br />REVOLVING liNE OF CREDIT. This Deed of Trust secures the Indebtedness Including, without limitation, a revolving line of credit, which
<br />obligates lender to make advances to Trustor so long as Trustor complies with all the terms of the Credit Agreement. Such edvances may
<br />be made, repaid, and remade from time to time, subject to the limitation that the total outstanding balance owing at anyone time, not
<br />including flnance charges on such balance at II fixed or variable rats or sum as provided in the CredIt Agreement, any temporary overages.
<br />other charges, and any amounts expended or advanced as provided in either the Indebtedness paragraph or this paragreph, shall not
<br />exceed the Credit Limit as provided in the Credit Agreement. It Is the intention of Trustor and lender that this Deed of Trust secures the
<br />balance outstanding under the Credit Agreement from time to time from zero up to the Credit limit as provided in the Credit Agreement
<br />and any intermediate balance.
<br />
<br />Trustor presently assigns to lender (also known as Beneficiary in this Deed of Trust) all of Trustor's right, title, and interest in and to all
<br />present and future leases of the Property and all Rents from the Property. In addition, Trustor grants to lender a Uniform Commercial
<br />Code security interest in the Personal Property and Rents.
<br />
<br />THIS DEED OF TRUST, INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL
<br />PROPERTY, IS GIVEN TO SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF EACH OF TRUSTOR'S
<br />AGREEMENTS AND OBLIGATIONS UNDER THE CREDIT AGREEMENT, THE RELATED DOCUMENTS, AND THIS DEED OF TRUST. THIS
<br />DEED OF TRUST IS GIVEN AND ACCEPTED ON THE FOllOWING TERMS:
<br />
<br />PAYMENT AND PERFORMANCE. Except as otherwise provided in this Deed of Trust, Trustor shall pay to lender all amounts secured by
<br />this Deed of Trust as they become due, and shall strictly and in a timely manner perform all of Trustor's obligations under the Credit
<br />Agreement, this Deed of Trust, and the Related Documents.
<br />
<br />POSSESSION AND MAINTENANCE OF THE PROPERTY. Trustor agrees that Trustor's possession and use of the Property shall be
<br />governed by the following provisions:
<br />
<br />Possession and Use. Until the occurrence of an Event of Default, Trustor may (1) remain in possession and control of the Property;
<br />(2) use, operate or manage the Property; and (3) collect the Rents from the Property.
<br />
<br />Duty to Maintain. Trustor shall maintain the Property in good condition and promptly perform all repairs, replacements, and
<br />maintenance necessary to preserve its value.
<br />
<br />Compliance With Environmental laws. Trustor represents and warrants to lender that: (1) During the period of Trustor's ownership
<br />of the Property, there has been no use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance by any person on, under, about or from the Property; (2) Trustor has no knowledge of, or reason to believe
<br />that there naa,-been, except as. pre'lioulilly disclosed to and acknowledged by lender in writing, (elany breach or violation of any
<br />Environmental Laws, (b) any use, generation, manufacture, storage, treatment, disposal, release or threatened release of any
<br />Hazardous Substance on, under, about or from the Property by any prior owners or occupants of the Property, or (c) any actual or
<br />threatened litigation or claims of any kind by any person relating to such matters; and (3) Except as previously disclosed to and
<br />acknowledged by lender in writing, (a) neither Trustor nor any tenant, contractor, agent or other authorized user of the Property
<br />shall use, generate, manufacture, store, treat, dispose of or release any Hazardous Substance on, under, about or from the Property;
<br />and (b) any such activity shall be conducted in compliance with all applicable federal, state, and local laws, regulations and
<br />ordinances, including without limitation all Environmental laws. Trustor authorizes lender and its agents to enter upon the Property
<br />to make such inspections and tests, at Trustor's expense, as lender may deem appropriate to determine compliance of the Property
<br />with this section of the Deed of Trust. Any inspections or tests made by lender shall be for lender's purposes only and shall not be
<br />construed to create any responsibility or liability on the part of lender to Trustor or to any other person. The representations and
<br />warranties contained herein are based on Trustor's due diligence in investigating the Property for Hazardous Substances. Trustor
<br />hereby (1) releases and waives any future claims against lender for indemnity or contribution in the event Trustor becomes liable for
<br />cleanup or other costs under any such laws; and (2) agrees to indemnify, defend, and hold harmless lender against any and all
<br />claims, losses, liabilities, damages, penalties, and expenses which lender may directly or indirectly sustain or suffer resulting from a
<br />breach of this section of the Deed of Trust or as a consequence of any use, generation, manufacture, storage, disposal, release or
<br />threatened release occurring prior to Trustor's ownership or interest in the Property, whether or not the same was or should have
<br />been known to Trustor. The provisions of this section of the Deed of Trust, including the obligation to indemnify and defend, shall
<br />survive the payment of the Indebtedness and the satisfaction and reconveyance of the lien of this Deed of Trust and shall not be
<br />affected by lender's acquisition of any interest in the Property, whether by foreclosure or otherwise.
<br />
<br />Nuisance, Waste. Trustor shall not cause, conduct or permit any nuisance nor commit, permit, or suffer any stripping of or waste on
<br />or to the Property or any portion of the Property. Without limiting the generality of the foregoing, Trustor will not remove, or grant to
<br />
|